AuditChain - Decentralized Continuous Audit Ecosystem

The world of modern business relations is simply teeming with a huge number of different enterprises, companies and organizations. Each of which pursues its own goal and not all of it is useful. I think you perfectly understood what I wanted to say, as not all companies conduct honest and open business processes, and also do not always plausibly report their reports. The system of auditing, both independent and generally accepted, which is carried out annually regardless of which country you are in, intends to regulate the market from such “garbage” companies and organizations.

Problems

But, as elsewhere in the audit system, there are also flaws. Naturally, they are mostly associated with poor-quality verification of those same companies or of any other organizations. It would seem that a system of this level, responsible for the quality and integrity of all documentary and legal processes of the business hierarchy, cannot make mistakes since each mistake can then cost too much money and other negative consequences. What is undesirable in the modern world, because without the high-quality fulfillment of their proper obligations, entrepreneurs will be able to relax altogether and not conduct all their affairs, structured, and most importantly within the framework of the law.

Nevertheless, no matter how much we would like the old principles of audit, they become less effective and not objective from year to year. Which naturally has an accumulated effect, the consequences of which will soon fall upon us from all sides.

A new decentralized project, which found not only a high-quality but also a technological solution to all of the above problems, will prevent such an incident.

About the project

This project is called - Auditchain. The main principle of this project lies in the continuous audit analysis of the data of any enterprise or organization, the processing, and collection of data of which is carried out directly using the built-in tools and blockchain technology. This technique will improve the entire existing accounting, as well as eliminate any human factor and the associated shortcomings and errors.

Thus, the full-fledged structure of the Auditchain project will allow you to check in real-time all the necessary documents of a project, as well as check its income, reports from accounting and much more. Moreover, this entire procedure will be automatic, which will significantly save an enormous amount of time and effort that was previously spent on classical audit systems.

Features

Naturally, in order to efficiently carry out all the declared functions and processes, the founders of Auditchain, in addition to the blockchain structure, used a number of additional elements, including technologies such as Stack and smart contract.

If we talk about each of them in more detail, for example, thanks to the basic Stack layers, the same public check of financial statements in real-time takes place. At the same time, providing full-fledged statistical reporting for each individual object being checked.

As for the smart contract, it will be developed in accordance with all the rules of state accounting, as well as comply with jurisdictional protocols and all related tax regimes.

Benefits

The main advantage of Auditchain over classical audits is the fact that absolutely all internal audit processes will be transparent, reliable and unchangeable. It will not be possible to falsify reports regarding the ongoing audit. Here it will not be possible to make this test biased or to direct one’s feelings about the company being checked whether the company is in one direction or another. Here it is impossible to arrange data manipulation or hide real statistics since most of the checks will be performed by automatically built-in algorithms.

Which will naturally allow bringing the entire structure of audits around the world to a new, better level. Depriving chances of developing low-quality projects, companies or any other organizations. I look at this prospect positively, as it simplifies the life of not only all companies involved in independent audits, but also entrepreneurs knowingly conduct their business processes honestly and openly. Depriving themselves of the opportunity to lie somewhere or to deceive the authorities.

At the same time, within the framework of the Auditchain structure, users will be able not only to get into accounting records, receive statistical analysis but also undergo all kinds of testing and digital certification of their nodes.

TOKEN

Naturally, like any other blockchain project, AuditChain intends to use its tokens to serve the network and regulate processes. Also for those who wish, there will be an opportunity to acquire exclusive opportunities and services inside the platform. Holders of AUDT tokens will be able at any time to purchase the necessary range of services and tools, as well as pay intra-platform fees and commissions.
The AUDT token itself is developed on the basis of the familiar Ethereum blockchain platform with a total of 250 million coins

Conclusion

At the moment, there is simply no alternative audit system offering such functionality that meets international standards and norms. AuditChain certainly has the ambition to occupy a leading position in the industry, since by and large it is a pioneer, and also surpasses classical audit systems by head! The project is very interesting and undoubtedly worthy of attention.

You can use this information for a detailed study of the project:

• Website : https://auditchain.com/
• Whitepaper : https://auditchain.com/Auditchain-Whitepaper.pdf
• Ann Thread : https://bitcointalk.org/index.php?topic=5152521.0
• Telegram : https://t.me/Auditchain_Community
• Facebook : https://www.facebook.com/auditchain/
• Twitter : https://twitter.com/auditchain
  
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  Bitcointalk username: werlot
  Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2558487